Are You Eligible for Fuel Tax Credits?

If you’re registered for GST and fuel tax credits, you can claim credits for the excise duty paid on fuel used in eligible business activities, including:

• Machinery, plant, and equipment
• Light vehicles travelling on private roads or off public roads (note that fuel used on public roads is not claimable)
• Heavy vehicles

Be mindful to only claim eligible fuels. For example, diesel exhaust fluids (such as AdBlue or other additives) are not taxable fuels and do not attract excise duty, so you cannot claim credits for them.

It’s essential to keep accurate records to support your claims and to ensure you’re only claiming the fuel tax credits you’re entitled to. Your TaxAssist Accountant can help you with:

• Navigating the fuel tax credit process
• Ensuring compliance with current rates and regulations
• Maintaining proper records to substantiate your claims

If you need extra time to pay your quarterly BAS, speak to us as we can negotiate with the ATO for payment plans and extensions on your behalf.

For further assistance with your fuel tax credits or any BAS-related enquiries, don’t hesitate to reach out.

Call us at 1300 513 332 and book a free 20-minute consultation today!

Last updated: 29th October 2024